Christie's has announced that it will offer the largest fancy intense pink diamond ever seen at auction as part of its April 16 Magnificent Jewels sale in New York.
The 34.65-carat gem, named The Princie Diamond, has not yet been given an estimate by the auction house, though it is likely to exceed all records for a diamond of this kind.
The current auction record for a pink diamond stands with the 9.0 carat, cushion cut Clark Pink, which sold for $15.7m in April 2012.
The Princie Diamond was first bought at auction for £46,000 ($69,940) in 1960 by the London branch of Van Cleef & Arpels, though its name originates from a party at the Paris branch of the store, where it was christened "Princie" in honour of the 14-year-old Prince of Baroda, who was in attendance with his mother Maharani Sita Devi.
Its origin can be traced back to the famous Golconda mines of India, which have produced some of the world's largest and best-known diamonds. The current record for any Golconda diamond is held by the famed Archduke Joseph, a colourless stone that sold for $21.5m at Christie's Geneva in November 2012.
Also from Golconda is the Beau Sancy diamond, which sold for $9.7m at Sotheby's in May 2012.
Christie's have long been a market leader for diamond sales, and 2013 looks to be no exception, with the largest flawless D-colour diamond ever offered at auction appearing at another auction on May 15 in Geneva.
However, Sotheby's has put in strong competition, with its sale of "the most valuable white diamond ever to appear at a New York auction" on April 17.
Stay on top of the jewellery market with our free weekly newsletter, which brings you the latest news on collecting as well as valuable investment advice.